Petrol prices- when does the madness end?

Petrol prices- when does the madness end?

Author
Discussion

SidewaysSi

10,724 posts

214 months

Thursday
quotequote all
Esso 169.9 for E10 which doesn't seem terrible.

Harrison Bergeron

5,278 posts

202 months

Thursday
quotequote all
DonkeyApple said:
Or maybe the properties of the word 'protection' ring a squeeze will inhibit the customers for premium from downgrading to non premium and therefor already inferior fuel.

Anyway, BP have just posted massive quarterly profits from their production business so I suspect people will be more focussed today on why they can't take that money and pay off their debts with it because it's unfair or some such.
What's really funny is that at my local terminal there's only 4 additive tanks. MOGAS,SUPER,DIESEL and RED. which is weird as Asda and Morrisons uplift from there as well as BP. And the supermarkets sure aren't getting raw petrol/diesel.


[Think they're decommissioning the red tank and are going to fill it with diesel additive]

bigothunter

5,031 posts

40 months

Thursday
quotequote all
SidewaysSi said:
Esso 169.9 for E10 which doesn't seem terrible.
169.9p per litre is terrible, just not as terrible as before biglaugh

Traffic volumes have not reduced much even at elevated fuel prices. Wonder how far price could be pushed before traffic reduces significantly? £3 per litre perhaps?

Plenty of scope for more taxation on road fuel - the market is tolerant...

Mr Tidy

17,626 posts

107 months

Thursday
quotequote all
Why did you say that? furious

Keep it to yourself please!

bigothunter

5,031 posts

40 months

Mr Tidy said:
Why did you say that? furious

Keep it to yourself please!
Common knowledge I'm afraid, especially in government circles.

Much more tax revenue can be extracted from the motorists before private transport breaks down. All kinds of opportunity - increased VED, greater fuel tax, road pricing. Options are almost unlimited hehe

28Kapital

30 posts

2 months

jrinns said:
Leicester Costco £1.60 Cheap 167 premium and 172 for diesel this morning .
local Costco is showing £1.55 seems to heading down every other day or so

Mr Spoon

1,977 posts

18 months

Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.

bigothunter

5,031 posts

40 months

Mr Spoon said:
Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.
And motorists will smile and be happy spin

XR

226 posts

31 months

Least expensive local to me last night, garage owner said it would come down again with next delivery, all the supermarkets still at least 10p more.




Uncle Meat

611 posts

230 months

^ what surprises me about those prices is you're paying 'only' 10p more from normal unleaded to the V power and 8p differential for the diesel.
I always pay 14p extra for V power petrol, why is Shell pricing seemingly so random?

DonkeyApple

45,277 posts

149 months

bigothunter said:
SidewaysSi said:
Esso 169.9 for E10 which doesn't seem terrible.
169.9p per litre is terrible, just not as terrible as before biglaugh

Traffic volumes have not reduced much even at elevated fuel prices. Wonder how far price could be pushed before traffic reduces significantly? £3 per litre perhaps?

Plenty of scope for more taxation on road fuel - the market is tolerant...
That's the risk. People have been frothing about how the evil corporates will keep fuel at £2 and then drive it ever upwards as they collude in the grand conspiracy against the poor downtrodden man. And they probably are still banging on about their tinfoil thickery despite watching prices step down and down as market forces and competition carries on working.

The true risk is that the last 6 months have created a completely new ONS dataset which will be used in transport and taxation policy calculations and decisions going forward by governments.

The last 6 months has shown that you could technically double fuel duty and very little would change. Raising fuel duty would be politically toxic which is why no one has risked it for years but there are plenty of other factors that this data will possibly work against us on such as the drive to EV, road pricing etc.

It's not the corporates that we should fear but what any future government will do on the back of the data.

DonkeyApple

45,277 posts

149 months

Mr Spoon said:
Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.
Explain how. Please give, clear, well thought out reasoning as to how this will work and who will be doing it.

Please also bear in mind that within the next 40 years the cheapest oil to extract on the planet will have been exhausted and so there won't be the $10 supply to keep the average market price anywhere near $100. But in the U.K. we will actually be one of the few countries to be OK as we will have accidentally transitioned mostly to EVs by then on the back of some silly eco drive.

Dog Star

14,202 posts

148 months

28Kapital said:
jrinns said:
Leicester Costco £1.60 Cheap 167 premium and 172 for diesel this morning .
local Costco is showing £1.55 seems to heading down every other day or so
I don't use a lot of fuel but had to fill two cars the other day - I actually filled neither as the price is dropping now at a rate that it would be a waste.

98elise

22,395 posts

141 months

DonkeyApple said:
Mr Spoon said:
Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.
Explain how. Please give, clear, well thought out reasoning as to how this will work and who will be doing it.

Please also bear in mind that within the next 40 years the cheapest oil to extract on the planet will have been exhausted and so there won't be the $10 supply to keep the average market price anywhere near $100. But in the U.K. we will actually be one of the few countries to be OK as we will have accidentally transitioned mostly to EVs by then on the back of some silly eco drive.
I believe that post is the entire depth of his analysis.

Jawls

402 posts

31 months

Harrison Bergeron said:
DonkeyApple said:
Or maybe the properties of the word 'protection' ring a squeeze will inhibit the customers for premium from downgrading to non premium and therefor already inferior fuel.

Anyway, BP have just posted massive quarterly profits from their production business so I suspect people will be more focussed today on why they can't take that money and pay off their debts with it because it's unfair or some such.
What's really funny is that at my local terminal there's only 4 additive tanks. MOGAS,SUPER,DIESEL and RED. which is weird as Asda and Morrisons uplift from there as well as BP. And the supermarkets sure aren't getting raw petrol/diesel.


[Think they're decommissioning the red tank and are going to fill it with diesel additive]
How do you know the supermarkets don’t get non-additised diesel/petrol?

There can also be agreements that let the oil company additive be used in lower doses for common users. So that can get round tankage constraints easily enough.

Edited by Jawls on Friday 5th August 10:25


Edited by Jawls on Friday 5th August 10:26

The spinner of plates

16,456 posts

180 months

DonkeyApple said:
bigothunter said:
SidewaysSi said:
Esso 169.9 for E10 which doesn't seem terrible.
169.9p per litre is terrible, just not as terrible as before biglaugh

Traffic volumes have not reduced much even at elevated fuel prices. Wonder how far price could be pushed before traffic reduces significantly? £3 per litre perhaps?

Plenty of scope for more taxation on road fuel - the market is tolerant...
That's the risk. People have been frothing about how the evil corporates will keep fuel at £2 and then drive it ever upwards as they collude in the grand conspiracy against the poor downtrodden man. And they probably are still banging on about their tinfoil thickery despite watching prices step down and down as market forces and competition carries on working.

The true risk is that the last 6 months have created a completely new ONS dataset which will be used in transport and taxation policy calculations and decisions going forward by governments.

The last 6 months has shown that you could technically double fuel duty and very little would change. Raising fuel duty would be politically toxic which is why no one has risked it for years but there are plenty of other factors that this data will possibly work against us on such as the drive to EV, road pricing etc.

It's not the corporates that we should fear but what any future government will do on the back of the data.
Agreed.
Corporations are governed by the need to be competitive.
Government’s on the other hand… that’s the real elephant in the room on this one. They’ve been watching, reviewing data and thinking “interesting…”

98elise

22,395 posts

141 months

The spinner of plates said:
DonkeyApple said:
bigothunter said:
SidewaysSi said:
Esso 169.9 for E10 which doesn't seem terrible.
169.9p per litre is terrible, just not as terrible as before biglaugh

Traffic volumes have not reduced much even at elevated fuel prices. Wonder how far price could be pushed before traffic reduces significantly? £3 per litre perhaps?

Plenty of scope for more taxation on road fuel - the market is tolerant...
That's the risk. People have been frothing about how the evil corporates will keep fuel at £2 and then drive it ever upwards as they collude in the grand conspiracy against the poor downtrodden man. And they probably are still banging on about their tinfoil thickery despite watching prices step down and down as market forces and competition carries on working.

The true risk is that the last 6 months have created a completely new ONS dataset which will be used in transport and taxation policy calculations and decisions going forward by governments.

The last 6 months has shown that you could technically double fuel duty and very little would change. Raising fuel duty would be politically toxic which is why no one has risked it for years but there are plenty of other factors that this data will possibly work against us on such as the drive to EV, road pricing etc.

It's not the corporates that we should fear but what any future government will do on the back of the data.
Agreed.
Corporations are governed by the need to be competitive.
Government’s on the other hand… that’s the real elephant in the room on this one. They’ve been watching, reviewing data and thinking “interesting…”
Governments are also driven by the need to stay in power. Big fuel bills is not a vote winner.


HustleRussell

21,961 posts

140 months

98elise said:
DonkeyApple said:
Mr Spoon said:
Like I've said many times, when the price of fuel settled around 1.50 everyone will be full of joy.

Then it will go 2.50 and settle at 2.00.

Then 3.00 and settle at 2.50.

You get the idea.

It's not cheap, good or affordable.

It is however, the new paradigm.
Explain how. Please give, clear, well thought out reasoning as to how this will work and who will be doing it.

Please also bear in mind that within the next 40 years the cheapest oil to extract on the planet will have been exhausted and so there won't be the $10 supply to keep the average market price anywhere near $100. But in the U.K. we will actually be one of the few countries to be OK as we will have accidentally transitioned mostly to EVs by then on the back of some silly eco drive.
I believe that post is the entire depth of his analysis.
yes

Shallow indeed when Petrol was £1.40 ten years ago and £1.07 just two years ago

M1C

1,437 posts

91 months

Lowest i've seen is Unleaded, Super Unleaded and Diesel at Costco Gateshead 159.7, 168.7 and 176.9 respectively.

Pica-Pica

10,644 posts

64 months

The spinner of plates said:
Agreed.
Corporations are governed by the need to be competitive.
Government’s on the other hand… that’s the real elephant in the room on this one. They’ve been watching, reviewing data and thinking “interesting…”
Corporations only need to be competitive if they have … well, competition.
British Broadcasting Corporation is perhaps an example.
Just don’t get me started on the Monopolies Commission - why was there only one of them?